If you're looking for a short-term CD, I'm afraid it's hard to find rates over one percent in today's awful interest rate environment. That's especially the case for some states like Florida. So when I found this CD special at a large Florida bank, I thought it was worth mentioning. It's at BankUnited which is offering a special 1-year CD with a 1.10% APY. Minimum deposit is $5,000. This special is listed at BankUnited's CD rates page as of 11/3/2011.
It appears a branch visit is required to open this CD special. BankUnited branches are located throughout South Florida. Some of the major cities include Ft Lauderdale, Miami, West Palm Beach, Tampa, Sarasota and Naples.
The old BankUnited was seized by the FDIC in May 2009. It was acquired by a consortium of investors and private equity firms. The "BankUnited" name was kept for the new bank.
The bank has an overall health score at DepositAccounts.com of 3 stars (out of 5) with a Texas Ratio of 55.66% (below average) based on June 2011 data. Please refer to our financial overview of BankUnited for more details. The bank has been a FDIC member since 2009 (FDIC Certificate # 58979).
How This Rate Compares
You can get a little higher 1-year rate at a bank by going online. The best deal is currently at CIT Bank which is offering 1.15% APY for its 1-year Achiever CD. This has an add-on and bump-up option (see my review).
The best nationally available 1-year CD rate is 1.30% APY at Alliant Credit Union.
These rates are accurate as of 11/03/2011.
Searching for the Best CD Rates
To search for the best nationwide CD rates and the best CD rates in your state, please refer to the CD rates section of DepositAccounts.com.